Real estate investment trust CapLease, Inc. (LSE) Thursday said it has priced its previously announced common stock offering at $5.97 per share and consisted of 7.5 million shares of common stock.
The offering was increased by 1 million shares from the originally announced offering of 6.5 million shares.
CapLease has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock to cover over-allotments, if any. The firm expects the offering to close on April 9.
The company plans to use the net proceeds from the offering for general corporate purposes, primarily for funding real property acquisitions in its pipeline.
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